Business
Gold Prices Hit $4,800 Amid U.S.–NATO Greenland Tensions
Gold prices climbed above $4,800 per ounce as U.S.–NATO tensions over Greenland and a weaker dollar fuel investor demand for safe-haven assets
London Gold prices surged to a fresh record on Wednesday climbing above $4,800 per ounce as investors sought refuge amid a broad selloff in U.S. assets triggered by escalating tensions between the United States and NATO over Greenland.
Also read: Gold Prices Hit Record High Amid US Shutdown Fears
Spot gold rose 2.1% to $4,862.19 per ounce by 0837 GMT, having earlier touched an all-time high of $4,887.82. U.S. gold futures for February delivery advanced 2.2% to $4,869.40.
Analysts noted that this marks the 11th record high for gold so far in 2026.
Market watchers linked the surge to geopolitical concerns and declining confidence in U.S. policy following recent moves by former President Donald Trump, who threatened tariffs on European countries and insisted on controlling Greenland.
French President Emmanuel Macron responded at the World Economic Forum in Davos, warning that Europe would not be intimidated.
“It’s the loss of trust in the U.S. caused by Trump’s moves over the weekend,” said Kyle Rodda, senior market analyst at Capital.com.
“The move in gold reflects fears about global geopolitical tensions.”
The rally was further supported by a weakening U.S. dollar and rising global debt levels.
The dollar index slipped to a near one-month low, making dollar-priced bullion cheaper for overseas buyers.
Other precious metals also experienced gains and volatility.
Spot silver climbed 0.4% to $94.96 per ounce, after hitting a record $95.87 on Tuesday.
Platinum fell 0.5% to $2,451.15 per ounce, while palladium declined 0.5% to $1,856.98 following a recent one-week high.
Also read: Adekunle Gold Honoured with Street Named After Him in Lagos
Investors appear increasingly focused on safe-haven assets, with bullion continuing to respond sharply to geopolitical developments and macroeconomic pressures.
The Niger Delta Chamber of Commerce, Industry, Trade, Mines and Agriculture (NDCCITMA) has dismissed allegations that it appropriated the Niger Delta Economic & Investment Summit (NDEIS) brand, insisting it lawfully obtained trademark acceptance for the name and will proceed with its 2026 summit as scheduled.
In a statement issued on September 12, 2026, the chamber described claims by Kunle Nwiwa Junior as “cheap blackmail, misleading, mischievous and a misrepresentation of the facts,” maintaining that it independently developed the summit and followed all required regulatory procedures.
According to NDCCITMA, it applied for and received a Trademark Acceptance Letter for the name Niger Delta Economic & Investment Summit (NDEIS) in August 2025 under File No. NG/TM/O/2025/387284.
The chamber said the chronology of events contradicts allegations that it copied another party’s application, arguing that its trademark acceptance predated the period during which Nwiwa’s own application was reportedly still pending before the relevant authorities.
“Economic Summit” is a generic expression
NDCCITMA further argued that the phrase “Economic Summit” is a generic description widely used for conferences that bring together governments, investors, businesses, development institutions and other stakeholders to discuss investment and economic development.
The chamber maintained that while concepts may be widely used, legal protection only arises from recognised intellectual property rights, including duly registered trademarks and other enforceable proprietary interests.
It therefore rejected suggestions that any individual or organisation has exclusive ownership of the broader concept of an economic summit.
Court grants interim injunction
Addressing reports that the summit had been halted, NDCCITMA said the dispute is already before the Federal High Court in Port Harcourt and that there is no court order restraining the event.
The chamber disclosed that in Suit No. FHC/PHC/CS/57/2026, Justice Stephen Dalyop Pam granted an interim injunction restraining the defendants—Kunle Nwiwa Junior and Keneva Consult Ltd.—from interfering with the planned summit.
According to NDCCITMA, the court also directed the defendants to remove publications, notices, petitions, social media posts and other statements allegedly considered damaging to the chamber’s name, integrity and reputation pending the hearing of its motion for interlocutory injunction.
The matter has been adjourned until September 22, 2026 for further hearing.
Chamber rejects ₦500 million demand claim
NDCCITMA also alleged that it had received a demand from Nwiwa Junior requesting ₦500 million as a condition for abandoning his claims over the summit.
The chamber said the demand was rejected, adding that it subsequently petitioned the Inspector-General of Police over what it described as repeated harassment and threats directed at its officials.
It said the petition sought police intervention, including inviting the complainant for questioning and caution where necessary.
Summit opens September 15
Despite the legal dispute, NDCCITMA reaffirmed that the 2026 Niger Delta Economic & Investment Summit will hold from September 15 to 17, 2026, at the Obi Wali Conference Centre in Port Harcourt, Rivers State.
The summit will be held under the theme “Driving Investment, Innovation & Industrial Growth in the Niger Delta” and is expected to bring together policymakers, investors, business leaders, development partners and industry stakeholders to discuss economic transformation across the region.
The chamber said it remains committed to promoting commerce, industry, trade, mining, agriculture and sustainable economic development throughout the Niger Delta while allowing the courts to determine all outstanding legal issues.
Tinubu Niger Delta summit opens in Port Harcourt as investors and policymakers gather to drive investment, innovation and industrial growth
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